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Deals of the day- Mergers and acquisitions

Published 2017-10-24, 06:01 a/m
© Reuters.  Deals of the day- Mergers and acquisitions
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Oct 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** Swiss drugmaker Novartis NOVN.S is moving closer to spinning off the ailing Alcon eyecare business it bought from Nestle NESN.S for $50 billion in 2010, but said a final decision would depend on the unit's continued sales growth. Toshiba Corp 6502.T said it is considering various measures in case the $18 billion sale of its chip unit does not close by the end of the financial year and leaves the embattled conglomerate short of funds needed to ensure it stays listed. France's eyewear group Essilor ESSI.PA said it was hoping to make further progress on its tie-up with Italian peer Luxottica LUX.MI , a $54 billion transaction currently being investigated by the European Commission over competition concerns. Aker BP (LON:BP) AKERBP.OL has agreed to buy the Norwegian unit of U.S. oil firm Hess HES.N in a $2 billion deal, the companies said. State-controlled Polish banks Pekao PEO.WA and Alior ALRR.WA are considering merging, to bolster their positions as lenders struggle with regulatory pressure and ultra-low interest rates. Struggling commodities trader Noble Group NOBG.SI agreed to sell its Americas-focused oil trading business to Vitol for about $580 million as part of a debt-cutting strategy, and warned of a big loss for its third quarter. Agricultural chemicals maker Nufarm Ltd NUF.AX said it would buy a range of European crop protection product lines for $490 million to strengthen its position in Europe where it generates its highest crop protection margins.

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